Beyoncé has reportedly gifted her husband Jay-Z – and father of Blue Ivy – with the ultimate Father’s Day gift: a Bombardier Challenger 850.

The $40 million private jet holds up to fifteen passengers and comes with a cream leather interior in the living room, a kitchen and two bathrooms

As sales of private jets increase in China, interior design companies are looking to cash in.

From bedrooms fit for a prince, to jacuzzis, bars, small theaters, stereo systems and hookups for iPads, interior designs for private jets are taking off in China.

As sales of private jets grow in an emerging market, a small group of interior design companies are beginning to reel in more and more Chinese buyers.

Airbus is about to deliver a luxury double decker A380 to the Saudi prince Alwaleed bin Talal, the chairman of Kingdom Holding Company, a major investor in Citigroup.

Ordered in 2007, it will be the most expensive personal jet, with a final price well in excess of $500 million, including the cost of outfitting it with one-of-a kind amenities.

The world’s first privately-owned Boeing 747-8 Intercontinental has been delivered to one well-heeled buyer, airplane manufacturer Boeing announced this week.

The 747-8, a ‘stretched’ version of the classic jumbo jet, normally seats 467 passengers across its two decks, but the delivery made this week is likely to carry considerably fewer.

Instead, the undisclosed VIP customer will be able to fill the airliner with almost whatever they want, likely limited only by their imagination — and the 444 square meters of space which they have to play with.

Nations Luxury Transportation, LLC, has agreed to acquire the domain name PrivateJet.com from Don’t Look Media Group for $30.18 million in cash and stock.

Nations Luxury Transportation’s goal is to deliver the most efficient platform to facilitate worldwide chartering, aircraft acquisitions, and the selling of private jets.

By the end of 2012, it is expected that PrivateJet.com will be generating over 250,000 unique visitors per month from over 52 countries worldwide.

Brazil’s leading planemaker Embraer is eyeing the large Chinese market, and on Friday presented a Legacy 650 executive jet to martial arts star Jackie Chan to help build its brand there.

Embraer said that Chan would help the company promote “its entire line of executive aircraft, not only in the rapidly growing greater China market, but globally.”

“This delivery is a moment of historical importance to Embraer because it solidifies an already long and successful relationship between China and Embraer,” said Ernest Edwards, president of Embraer’s Executive Jets unit.